
Co-Founder & CEO of CryptoCFOs.com Bridging the gap between tradfi and DeFi for tax and accounting pros Crypto/Surf/Acro Uvita, CR
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I did a call with my aunt and her friends in Oct of 2021 (by her request) to explain about ETH and BTC and advised them all to only DCA into those 2 and to expect a pull back in the short term based on the cycles. Theyโve all been plugging away since and are now asking me about staking!
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๐ Its official, I just sold my car for BTC..๐ค What are the tax implications? The only thing this triggered was to establish the cost basis of my BTC This means, if I ever sell my BTC I will recognize capital gains on the difference between the future sales proceeds and this cost basis that I just established